It’s easy to condemn the posturing of Greece’s Syriza-led government in its battle with its European creditors. Greece ran up a major debt and must pay. If Greece can walk away from its commitments, it will only need more bailouts in the future. Its creditors offer bitter medicine, but medicine is what’s required, and Athens must swallow it.
But look beyond Syriza’s amateurish posturing and see the ordeal the Greek people have already endured. Spain, Portugal and Ireland have lost less than 7% of GDP since the euro-zone crisis began. Greece has lost 26%. Nearly 1 in 5 Greeks can’t meet …read more
Source: Time
